Think Finance, LLC, formerly known as Think Finance, Inc.
The Consumer Financial Protection Bureau (CFPB) took action against Think Finance and its wholly owned subsidiaries for their role in deceiving consumers into repaying loans that were not legally owed. In a suit filed in federal court, the CFPB alleges that Think Finance illegally collects on loans that are void under state laws governing interest rate caps or the licensing of lenders. The Bureau alleges that Think Finance made deceptive demands and illegally took money from consumers’ bank accounts for debts that were not legally owed. The CFPB seeks to recoup relief for harmed consumers and impose a penalty.